CASE STUDY : VENDOR INVOICE PROCESS AUTOMATION

Business Need

Our client, a multinational company with $26 Billion in revenues with presence in 100 countries, employing nearly 144,000 across the globe, had the following business need:

  • Legacy shadow IT solutions for processing vendor invoices
  • Regional specific tedious manual processes
  • Increased backlog with no corresponding PO’s
  • Overpaid invoices and not taking the advantage of the of the early payments and net terms

Solution

  • Implemented centralized global PO systems
  • Bots enabled to interact with legacy shadow IT systems to pick up pending invoices
  • Bots auto detect corresponding PO from central system
  • Bots auto approves invoices based on threshold and auto releases timely payments

Benefits

  • Bots process 3.6 Million invoices per month
  • No backlog of invoices
  • Increased efficiencies as only exceptions are reviewed by concerned personal
  • Client was able repurpose 20-25 personnel from accounts payable department which lead to $1.2M savings per year
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